Lunch prices at Czech restaurants have stabilized in recent months after rising by up to a fifth year-on-year. Data from transaction data from Gastro Pass Card meal vouchers by Sodexo Benefits showed that people paid an average of CZK 182 for lunch in March, just one crown more than in December last year. The average lunch price in the Czech Republic in March was CZK 182, CZK 181.40 a month earlier, and CZK 180.40 in December last year. Higher costs have been passed on to prices by hospitality establishments, but people are no longer willing to pay more. The most significant price hike of over CZK 5 came in September, while changes have been merely cosmetic since December.

According to Jan Michelfeit from Sodexo Benefits, the slowdown in growth is due to restaurant operators catching up with rising input costs. People are no longer willing to accept high prices. Luboš Kastner, an expert on gastronomy from the Association of Small and Medium-Sized Enterprises and Entrepreneurs of the Czech Republic, agreed that lunch prices will not move for some time. Kastner noted that farmers and suppliers who raised prices the most were quite scared, and they understood that the price spiral could not grow indefinitely.

Like in previous months, lunches were the most expensive in Prague, where people paid an average of CZK 203.50 in March. Lunches cost CZK 196.90 on average in Central Bohemia, which has been in second place for a long time. The cheapest lunches were found in the Vysočina and Ústí nad Labem regions, where menus can be obtained for CZK 40 less than in Prague. In a year-on-year comparison, the average lunch price in Czech restaurants increased by 13%, or CZK 21.50.

Despite the stabilization in lunch prices, the coronavirus pandemic has caused the closure of many restaurants and cafes. Many establishments are still struggling to recover, with some permanently closed. Although the price of lunches has stabilized, restaurant owners and operators may still face challenges in regaining pre-pandemic revenues and profits as the industry continues to deal with the impact of the pandemic.

Article by Prague Forum